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Greece to get $4.6 billion IMF aid

Staff writer ▼ | June 3, 2014
Greece is set to receive $4.6 billion from the International Monetary (IMF) after the institution's board signed off on the latest review of Greece's rescue package.
Greece aid
Greece aidGreece is set to receive $4.6 billion from the International Monetary (IMF) after the institution's board signed off on the latest review of Greece's rescue package.


The disbursement comes after the IMF and Greece's European lenders finished analysing Greece's progress under its €173 billion bailout in March, ending six months of protracted negotiations. Greece last got an IMF aid disbursement in July 2013, of $2.3 billion.

The IMF has so far lent Greece about $15.8 billion under a four-year programme, meant to help Athens recover from a sovereign debt crisis, rebuild its economy and return to markets.

Given the delay with the fifth review, Greece should get the equivalent of three more disbursements this year, spread out over any remaining reviews, the IMF said. The lender praised Greece's progress in cutting its debt and bringing its primary budget into surplus ahead of schedule.


 

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